Do You Have Insurance When You Drive For Uber or Lyft?

Ride-sharing company Uber did not exist in 2008. In 2015, it earned a reported $1.5 billion in revenue. Airbnb, the online home-sharing marketplace founded in 2008, lists rentals in 34,000 cities. Smartphone applications enable people to make money giving rides, renting their homes, and even their personal possessions. However, their insurance may not protect them when something goes wrong.

Those who drive for Uber and other transportation network companies may be doing so without insurance to cover them for injuries or damages they cause to others. Most auto insurance policies do not apply when the insured person is using a vehicle to give others rides for a fee (other than in traditional carpools.) 
While Uber, Lyft and other companies provide some liability insurance, that coverage might not apply before a passenger enters the vehicle.

If you are driving for one of these services, check to find out whether they insure you during your trips, how much insurance they provide, and what the terms and conditions are. Also, ask your insurance agent about policies that might cover you during the times when you are open for rides but before you pick up a passenger.

If you are the person purchasing the ride, find out ahead of time whether the company provides insurance for injuries to passengers and how much. If you live in a state with a "no-fault" insurance law, your own auto insurance policy may cover some of the costs of injuries you suffer during a ride. If your state has such a law and you get hurt in an accident, submit claims to both the driver's insurer and your own.

Contact us for more information regarding insurance coverage, and if you are covered while driving for a rideshare.  DF Insurance Agency can get you a quote for your vehicle with a rideshare endorsement policy to ensure that you are properly covered.

Email:  customerservice@dfagency.com

Website:  www.dfagency.com

Phone:  317-887-9886

Why a Lapse in Coverage Can Have Serious Results.

Why A Lapse In Coverage Can Have Serious Results

Letting your auto insurance policy lapse doesn't seem to be that serious a matter on the surface.  Unfortunately, it is not only illegal to drive without insurance; it can also have much more serious consequences than a ticket for driving without insurance.  A lapse in auto insurance can have far-reaching results with the potential to affect your entire life. 

The Legal Aspect

All drivers are required by law to carry a minimum liability policy in order to get behind the wheel.  This protects all of the drivers on the road by ensuring that in the event of an accident, the at-fault party will have insurance to pay for the damage.  If you are pulled over and found to be driving without insurance, you will be given a ticket and may face even more serious legal consequences, depending on the state in which you reside.

Financial Consequences

If you think you can't afford to pay your insurance premiums, then you really can't afford not to pay them.  If you are involved in an accident where you are found to be at fault, and there is no insurance to pay the damages, you will be responsible.  In a serious accident with a lot of property damage and injuries, this can add up really quickly.  You may not have the thousands of dollars to pay the bills, but with a judgment against you your wages can be garnished and other assets placed in danger, including your home.  Not paying that insurance premium can lead to paying off a huge amount of money for the rest of your life.

Future Insurance Premiums

Some insurance companies won't even take a driver who does not have previous insurance (aside from new drivers), while others will simply charge you a higher premium.  A lapse in your old policy can mean that you will no longer qualify for the rates you were getting before.  You may lose discounts including longevity with your insurance company, or be treated as a higher risk to the company.  You may also have to make a new down payment or pay reinstatement fees.  It can take a while to work your way back up to getting the better rates reserved for the company's best customers.  Some insurance companies may also have a limit on the number of times you can lapse before they refuse to reinstate you. 

A lapse in your insurance policy can be much more costly than had you simply continued to pay your premiums.  If you are having trouble paying your insurance bill, talk to your agent about ways to reduce your rates, rather than allowing a lapse to occur.

Beware of Phishing & Fraudulent Emails, they are looking legitimate!

I wanted to write this post from a personal standpoint on the awareness of phishing and fraudulent emails.  I was absolutely shocked at how legitimate the email and website looked!  Fortunately, I am aware of what is expected, and what are red flags, thanks to my researching for up to date newsletters and blog posts.  However, had I not known about the red flags, I would have submitted all my information.  This could happen to anyone, and that is why I want to share with you the example that just happened to me.  At the end of the article I will provide you with information on reporting phishing emails, fraudulent activity, and/or what to do if you think you have been a victim of identity fraud.

This email looks very similar to an actual email I received from American Express prior (which I will attach the header and footer later).  Here is a screenshot of the email that I received:

The 7 red flags that I want to point out in this email are:
1.  The greeting is vague.  Instead of using my name, it is generalized with "Card member".
2.  The account ending in 0001.  Typically I do not know the last 4 of my card number, and normally do not have it on me to double check.  Also, I like the padlock there to make it look like it is secure.
3.  Although the toolbar looks very much legit, it is different.  I'll show you what it looks like later.
4.  I didn't even recognize this until I was marking the examples for illustration, but the side bar margin is off.  This is where they photoshopped the letter with links to the fraudulent website.  When it was photoshopped and added to the email, it wasn't aligned correctly.
5.  The different fonts and the empty bullet points.
6.  Add us to your address book... this really is suppose to say, update your email.
7.  The last red flag on the email is "customer service" link.  American Express refers to it as "Customer Care".
A few other red flags to keep in mind:
1.  This email was sent to an email that was not even registered to my account.
2.  I have never had a financial company email me to confirm a bank account by clicking on a link.
3.  Believe it or not, I really did click on the link which took me to an American Express website (not the real one, of course).  When I got to the website, it wanted me to fill out my personal information (name, address, phone number).  I normally would just log in with my ID and password.  As I skimmed the page, I saw they were requesting my DOB, Amex credit card number, social security number, and my banking information...to verify my payment account.  I immediately closed the page, and clicked on the link again to see the web address.  Well, this time it came up as (http://karazatina2354.com/amxxx/Validation/ )
4.  Last, I clicked on the receiver to view the email address.  It said American Express, but when you open the contact, the email was not even related to any financial institute.

Below are examples of an actual email I did receive from American Express previously.

1.  In the Header, you will notice they use the card members full name.  It is not generalized.

2.  Refer to #3 above.  I would not have known this if I didn't have something to refer to, but it illustrates how real it looks.

3.  It has the same account ending, they do put the last 4 of your card number here (I deleted mine for obvious reasons).  However, they don't have the padlock here.

The Footer is even more difficult to spot if you do not have anything to compare to.  

1.  American Express wants you to update your email, not add them to your address book.

2.  As mentioned above, American Express has "Customer Care" instead of "Customer Service"

Once again, I have received some phishing emails in the past, but this one really surprised me, and I wanted to share this example.

PLEASE BE CAREFUL when responding to phone calls, emails, websites that contain personal information.
Here are some things to keep in mind:
1.  If you are unsure if an email is legitimate, go directly to the website and log in, or Call the company direct.
2.  When you have an account and login ID/password with a company, you will not surpass signing in to your account and fill in your personal information to update your information.
3.  Open up the sender's contact to make sure it is tied to the company (ie. AmericanExpress@welcome.aexp.com)

What do you do when you received a phishing email or submitted your personal information?
You will want to report it immediately to The Federal Trade Commision at https://www.ftc.gov/
You can report Phishing Scams here:  https://www.consumer.ftc.gov/articles/0003-phishing Your financial company, American Express in this case, will typically have a way to contact them regarding phishing emails or fraudulent activity.
If you feel like your identity is being compromised, this link will help you get started:  https://www.consumer.ftc.gov/topics/identity-theft

DF Agency Referral Program

We depend on the support of clients like you. It means a great deal to us that you trust our team enough to recommend us to others.  That is why we want to give back to you!  When you share our name with your family, friends and associates, you are helping them to save money and you receive a special ‘Thank You’ for yourself. You will be entered into our drawing for a Gift Card!

For every referral you send, we will enter your name into our drawing for a $25 Visa Gift Card.

It’s that simple!  As long as you are 18 years of age or older, your referral will be credited to you even if the person you refer does not ultimately purchase a policy from us. It is not necessary that you be a current client of our agency in order to qualify.

Click Here For Details/Guidelines

We appreciate your business very much. It’s a huge compliment to receive a referral from you. They will receive the same service and care that you expect from us.

10 Questions for Assessing Insurance Needs and Changes

When life circumstances change, insurance needs change with them. This is why agents across the country encourage Americans to review their insurance policies every year to update coverage for such changes. These are 10 important questions to consider when updating coverage.

Did marital status change? When a person gets married, it is important to add a spouse to home and auto policies. Merging two established households means adding more valuables, and these should also be properly insured. If there are a lot of new expensive valuables, they may need separate coverage. Married couples should also have adequate enough life insurance to compensate for the loss of a partner. When getting divorced, couples must update their home insurance policies to reflect who owns what and auto policies to reflect who drives each vehicle. Life insurance beneficiaries should be updated as well.

Was there a new addition to the family? If a married couple has a baby or adopts a child, it is important to update a life insurance policy to include the new child. This should be done even if the child is not named as a beneficiary. A higher coverage amount should be added to each partner's policy to provide funds for all surviving family members, and some people may want to add enough for each child to attend college in the future. Long-term disability insurance is also a must for any couple with children.

Are there any new drivers? When a teenager starts driving or a caregiver must be added to a policy as a covered driver, it is important to review and update auto coverage. Since teens are prone to accidents, the policy should allow ample coverage for them. Teens who earn good grades are eligible for student discounts as well.

Has income changed considerably? Many people choose to decrease their life insurance when they downgrade to a job with lower pay. However, it is more important to change coverage when income increases or a new employer does not offer life and long-term disability coverage. In the case of an income increase, a higher coverage amount will compensate for new financial commitments such as a home or vehicle that survivors would need to keep up. Adding individual long-term disability and life insurance will compensate for a loss of employer coverage.

Were any home renovations made? Several types of renovations increase the value of a home. It is important to update a home insurance policy to include these. Also, consider outside structures such as gazebos and garages. Talk to an insurer before adding any non-gated pools, water slides and trampolines, which are considered hazards.

Was another home purchased? People who buy additional properties as vacation homes or part-year residences should buy ample coverage for them. Since many vacation homes are near lakes, oceans and rivers, they may also need separate flood protection. Homes that are vacant for long periods of time may cost more to insure, which is why it is best to speak with an agent before committing to buy a second home.

Were any new valuables added? An expensive wedding ring, a valuable antique firearm and a one-of-a-kind expensive painting are just a few examples of added valuables. It is important to declare these in detail to an insurance agent. They require a separate floater or endorsement policy.

Was a property lease signed recently? If a person signs a lease to rent an apartment or a home, the landlord is responsible for replacing or fixing the structure. However, renters are responsible for replacing any damaged or stolen items of their own in the property. It is important to have adequate renter's insurance to cover all belongings.

Is there a new carpool? Anyone who joins a carpool has an added risk when several passengers frequently ride in the car. Talk to an agent about providing for the added risk.

Has anyone retired recently? Retired individuals often drive less. Report any mileage estimate changes to an insurance agent for a possible discount, and retired drivers may qualify for an additional discount.

To learn more, contact us at 317-887-9886 or customerservice@dfagency.com